Coronado confirms customer talks

Investors initial response positive to potential $150m Stanwell support

Investors have responded positively to confirmed rumours that Coronado Resources is in advanced discussions with Stanwell Corporation over short-term financial support worth $150 million.

Coronado Resources - operator of the Curragh mine near Blackwater - was forced last week to update investors about what steps it’s taking to manage its cash flow through the current slump in coking coal prices.

At the close of business on Tuesday, its shares had fallen to $0.105, representing a 93% decline from its 12-month high of $1.44 in August last year.

However, yesterday, its share price jumped around 50%